Artificial Intelligence in Genomics Market Size, Share, and COVID-19 Impact Analysis By Offering (Software and Services), By Delivery Mode (On Cloud and Premise), By Technology (Machine Learning and Computer Vision), By Application (Diagnostics, Drug Discovery & Development, and Precision Medicine), and By End-User (Pharmaceutical and Biotechnology Companies, Research Institutes, and Others), and Regional Forecast, 2024-2032

Artificial intelligence (AI) was developed to perform tasks that would generally require human intelligence. However, the technology currently has opened new growth avenues in the field of healthcare, such as clinical genomics. Through deep learning and machine learning, artificial intelligence is used to process large and complex genomic datasets. Although the use of AI and ML in genomics is in the early stage, the advantages associated such as accurate identification of genetic disorders, identification of the primary kind of cancer through liquid biopsy, and mapping the progress of cancer in individuals is expected to drive the growth of the market.

Furthermore, the adoption of AI solutions in the development of precision medicine, the increasing investment by major companies in the research and development of AI in genomics, and the growing government initiatives are fueling the market growth.

• For instance, in July 2022, CSIR Institute of Genomics and Integrative Biology in India partnered with Lenovo in order to accelerate cancer-related research by using Lenovo Genomics Optimization and Scalability Tool (GOAST).

Impact of COVID-19 on Artificial Intelligence in Genomics Market 

The covid-19 pandemic created significant opportunities for AI in genomics for drug discovery, development, and diagnostics. AI in genomics helped in the identification of the SARS-CoV-2 sequence during the pandemic. Furthermore, it also helped in the identification of the variants such as delta strains and omicron. Technologies such as bioinformatics, immune informatics, machine learning, and reverse vaccinology were used in the development of drugs and vaccines used for the treatment of the SARS-CoV-2 virus.

As the COVID-19 pandemic became a public health crisis, government regulatory bodies also partnered and collaborated with research institutes for assistance in COVID-19-related research.

The growing number of applications for AI in genomics during the pandemic has provided new growth avenues for the market.

• For instance, in March 2020, Predictive Oncology and Soluble Therapeutics signed an agreement to launch an artificial intelligence platform for the development of vaccines and drug development during the COVID-19 pandem

Key Insights: 

• New Product launches, By Key Players.


• Key Industry developments- Partnerships, Mergers, and Acquisitions.


• Overview: Technological Advancements in the AI in Genomics Market.


• Overview: Developments related to Funding Received by Key Players.


• Overview: Genomic Services.


• Impact of COVID-19 on AI in Genomics Market.

Analysis by End User:

Based on End User, the market is bifurcated into pharmaceutical and biotechnology companies, research institutes and others. Pharmaceutical and Biotechnology companies holds the largest segment in the market. These companies are currently adoption AI in genomics for drug discovery and development of precision medicine as it accelerates the drug discovery process by reducing the turnaround time. Furthermore, the increasing demand for innovative medicines for genetic disorders and infectious diseases positively effects the market growth.

• For instance, in October 2022, Illumina, Inc. and AstraZeneca plc signed an agreement to accelerate drug target discovery with the use of AI and genomics analysis technique. Based on the agreement the companies aim to find promising drugs based on human omics insights.

Therefore, the application of AI in genomics during the drug discovery process reduces the operational cost and increases efficiency during drug manufacturing.

Regional Analysis: 

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North-America market holds the largest share in the market due to the increasing initiatives by government and research organizations to promote AI in genomics for the development of precision medicine. Furthermore, the presence of major companies in the region also contributes towards the growth and the increasing strategic initiatives like collaboration and partnership with pharmaceutical companies contribute towards positive market growth

• For instance, in November 2020, BioMarin Pharmaceutical Inc. and Deep Genomics announced a preclinical collaboration to use Deep Genomic’s AI drug discovery platform (The AI workbench) to identify oligonucleotides drug candidates for four rare diseases indication with high unmet needs.

Asia Pacific region is expected to witness lucrative growth due to the increasing integration of AI in genomics in countries like China and India. Furthermore, growing research initiatives and the developing infrastructure for genomic research also fuel the growth of the region in this market.

• For instance, in June 2022, C2i Genomics, a cancer research company announced a strategic partnership with Karkinos Healthcare to co-develop the minimal residual disease (MRD) market in India.

Key Players:

The report will include the profiles of key players such as IBM, Verge Genomics, Microsoft, DEEP GENOMICS, Fabric Genomics, Inc., Predictive Oncology, Illumina, Inc., DNAnexus, Inc., Emedgene, and other prominent players.

Segmentation:

Key Industry Developments:

• March 2022: Fabric Genomics, Inc. announced a partnership with the Broad Institute of MIT and Harvard in order to improve their whole genome sequencing (WGS) analysis offering.


• September 2022: DNAnexus Inc. announced a three-year contract with Our Future Health to analyze the company’s biomedical dataset and provide tools to drive biological insights and global collaboration in order to advance precision medicine.


• December 2020: Emedgene announced a non-exclusive partnership with Illumina, Inc. and the integration of automated interpretation into Illumina’s TruSight Software Suite for rare genetic diseases.